Layoff Announcements Expected Friday

After learning of the departure of three top-level executives,
employees at Hawker Beechcraft have been told the company is
ceasing its 401(k) contributions to employee accounts, and that a
workforce reduction will be announced Friday.

The Wichita Business Journal reports that earlier this week,
George Nguyen, senior vice president for operations; Charles Mayer,
vice president for marketing; and Gail Lehman, vice president,
general counsel and secretary all announced their resignations
Tuesday. In the same memo, Chairman and CEO Bill Boisture said he
would be taking a 10 percent pay cut. The following day came
the announcement of suspension of the 401(k) match, which will be
in effect through next year. The company said the benefit match
would be re-evaluated in 2011. Employee contributions to health
care premiums will also be increased in October.

Finally, the memo said that the next round of layoffs would be
announced Friday. While most would come from what it called
"non-bargaining unit employees", some union members could also be
affected. Additional furloughs are also part of the package that
Hawker Beechcraft says are designed to "match our business demands
and revenues.”